2023.03.2111:41:00UTC+00Eurozone Construction Output Expands Most In 22 Months

Eurozone construction output rebounded sharply in January and at the fastest pace in nearly two years amid robust growth in both building construction and civil engineering, data from Eurostat revealed on Tuesday.

Construction output rose 3.9 percent month-on-month in January, reversing a 2.3 percent fall in the previous month.

Further, the latest rate of expansion was the fastest since March 2021, when output had grown 4.2 percent.

Building construction logged the biggest increase of 4.2 percent after a 1.9 percent drop. Similarly, civil engineering recovered strongly by 3.0 percent from December, when it contracted by 4.6 percent.

On a yearly comparison, total construction output registered an increase of 0.9 percent, in contrast to the 0.6 percent decrease in December. Building and civil engineering grew 1.5 percent and 0.5 percent, respectively.

In the EU27, construction output rebounded 3.5 percent monthly and by 1.4 percent yearly in January.

Among member states, the biggest monthly increases in construction output were observed in Germany, Slovenia, and Poland, while the worst declines were seen in Hungary, Romania, and Belgium.